Talkspace (NASDAQ:TALK) Shares Gap Down – What’s Next?

Talkspace, Inc. (NASDAQ:TALK) gapped down prior to trading on Thursday . The stock had previously closed at $3.86, but opened at $3.21. Talkspace shares last traded at $3.10, with a volume of 3,429,674 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TALK shares. KeyCorp began coverage on shares of Talkspace in a research report on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective for the company. Barclays upped their price target on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Northland Capmk upgraded shares of Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Finally, Mizuho began coverage on Talkspace in a report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 target price on the stock. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Talkspace has a consensus rating of “Buy” and an average target price of $4.38.

Talkspace Price Performance

The company has a market capitalization of $538.01 million, a price-to-earnings ratio of -318.50 and a beta of 1.14. The firm’s fifty day moving average price is $3.30 and its 200-day moving average price is $2.79.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. On average, research analysts predict that Talkspace, Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On Talkspace

Institutional investors have recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in Talkspace during the 3rd quarter worth $33,000. Cibc World Markets Corp bought a new position in shares of Talkspace during the fourth quarter valued at about $36,000. Belvedere Trading LLC purchased a new position in Talkspace during the fourth quarter worth about $37,000. Ameriprise Financial Inc. bought a new stake in Talkspace in the 4th quarter worth about $53,000. Finally, Creative Planning grew its position in Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after purchasing an additional 6,179 shares in the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

Talkspace Company Profile

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.